07 December 2015 by lberuti

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During the week following the release of the NFP statistics in the US, there is usually a lull in terms of economic number release. It is therefore no surprise that a good deal of attention was paid to the comments made in New York late on Friday by Mr Draghi. Following the lukewarm reception by the markets of the ECB’s set of measures last Thursday, he felt the urge to be much more forceful during his NY appearance. Even though he said they were “not a package meant to address market expectations”, his assurance that “there cannot be any limit to how far we are willing to deploy our instruments, within our mandate”probably was. And that worked! European credit indices are grinding back to the tighter end of their recent trading range.